Citi analyst Keith Horowitz lowered the firm’s price target on State Street to $82 from $93 and keeps a Neutral rating on the shares post the Q1 results. The share underperformance was largely due to a disappointing net interest income update with 2023 NII now expected to be up 5%-15% versus the previous guide of up 20%, the analyst tells investors in a research note.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on STT:
- State Street price target lowered to $68 from $70 at Deutsche Bank
- State Street’s stronger fee revenue growth overshadowed by NII drop, says RBC
- Deposits Declined for MTB, STT, and SCHW; Is Trouble Ahead?
- State Street price target lowered to $83 from $91 at Morgan Stanley
- State Street price target lowered to $100 from $102 at Barclays